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The Johan Sverdrup Oil Field development has been given the green light and major contracts have been awarded. Johan Sverdrup is among the largest oil fields on the Norwegian shelf, and will at peak contribute with 25% of the production from the Norwegian shelf.

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The Nabucco project represents a new gas pipeline connecting the Caspian region, Middle East and Egypt via Turkey, Bulgaria, Romania, Hungary with Austria and further on with the Central and Western European gas markets

The pipeline length is approximately 3,300 km, starting at the Georgian/Turkish and/or Iranian/Turkish border respectively, leading to Baumgarten in Austria. In this respect it has to be taken into account that a reasonable amount of the gas volumes, reaching Baumgarten, have to be further transported through Austria to the Central and Western European Countries.

According to market studies the pipeline has been designed to transport a maximum amount of 31 bcm/y.

Estimated investment costs including financing costs for a complete new pipeline system amount to approximately 7.9 billion Euro.